From the FXWW Chatroom: Without any news UsdJpy shot up from 106.60’s to 107.45 in split second. I suspect the offers 106.90-107.10 were pulled and someone or people had stops to do. Macro sellers after the high and UsdJpy soon drifted back to 106-handle. This move up has caused some real pain. By time Asia opened, UsdJpy was back to 106.60’s. That 107.45 print was like a dream or nightmare for some. Bids are rumoured to be at 106.50 and again 106.20’s. We should see some selling back at 106.90-107.10.
Apart from the jobless rate, rest of the New Zealand first quarter labour report were positive. NzdUsd jumped 20 pips on that and stayed bid.
It was when UsdJpy retreated that the AudUsd advanced…slowly. Usd strengthened and caused AudUsd to fall back. Bids in the low 0.7480’s were pulled, AudUsd slipped to 0.7467. I hear corporate bids are in the 60’s.
At the beginning, Canadian dollar looked to performance of oil futures – UsdCad trading into this 1.26-handle as oil futures stable. Oil turned, AudUsd weakened and UsdCad jumped to take out weak stops above 1.2730 into the 40’s.
Some mining companies sold spot Gold above 1285; we suspect these guys missed the selling above 1300.
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